Cornercap Investment Counsel Inc. Has $2.68 Million Position in ConocoPhillips (NYSE:COP)

Cornercap Investment Counsel Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 105.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,067 shares of the energy producer’s stock after acquiring an additional 13,881 shares during the quarter. ConocoPhillips comprises approximately 0.9% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 5th largest position. Cornercap Investment Counsel Inc.’s holdings in ConocoPhillips were worth $2,684,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its stake in shares of ConocoPhillips by 6.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,953 shares of the energy producer’s stock worth $206,000 after acquiring an additional 121 shares during the period. Freedom Investment Management Inc. lifted its position in ConocoPhillips by 18.8% in the third quarter. Freedom Investment Management Inc. now owns 9,418 shares of the energy producer’s stock worth $992,000 after purchasing an additional 1,492 shares during the period. Bridgewater Associates LP increased its position in shares of ConocoPhillips by 58.9% during the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after purchasing an additional 1,141 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of ConocoPhillips by 20.6% in the third quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock valued at $1,043,000 after buying an additional 1,690 shares during the period. Finally, Icon Wealth Advisors LLC boosted its stake in ConocoPhillips by 1.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,998 shares of the energy producer’s stock valued at $1,263,000 after buying an additional 183 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $102.37 on Friday. The firm has a fifty day moving average of $98.95 and a two-hundred day moving average of $103.28. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market capitalization of $130.26 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.95.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.